U.S. President Donald Trump announced Sunday that he is postponing the imposition of a 50% tariff on imports from the European Union until July 9, following a phone call with European Commission President Ursula von der Leyen.
The move marks a temporary retreat from a threat that had alarmed global financial markets and escalated fears of a deepening transatlantic trade war.
Trump had originally declared on Friday that a steep 50% tariff would go into effect on June 1, citing frustration with the slow pace of trade negotiations between Washington and the 27-nation EU bloc. The announcement triggered widespread concern among global investors and trading partners.
“We had a very pleasant phone call, and I agreed to delay the decision,” Trump told reporters as he returned to Washington after spending the weekend in New Jersey. “She [Von der Leyen] said they needed more time to reach an agreement. We’ll meet soon and see if we can work something out.”
In a social media post on X (formerly Twitter), Von der Leyen confirmed the conversation, describing it as “a good talk” and reaffirmed the EU’s readiness to act swiftly to find common ground.
Rising Tensions Over Tariffs
Trump’s tariff threat is the latest flashpoint in a volatile trade relationship marked by fluctuating policies and aggressive rhetoric. Analysts say the proposed 50% levy would severely impact key European exports, especially automobiles and luxury goods, deepening economic rifts between the U.S. and its longstanding allies.
The temporary postponement gives negotiators roughly six weeks to defuse tensions and possibly craft a framework for a revised trade agreement.
Political Undercurrents
This latest development comes amid heightened geopolitical friction. Over the weekend, Trump also made headlines with sharp criticisms of both Vladimir Putin and Volodymyr Zelenskyy, reinforcing his combative foreign policy tone as the 2024 U.S. election cycle continues to ripple through international relations.
